New York

  • August 09, 2024

    Ripple Claims Victory In SEC Suit But Paid A Price

    Ripple Labs Inc. celebrated the end of its legal battle with the U.S. Securities and Exchange Commission as a "clear victory" that cut through the regulator's bid for $2 billion over the exchange's unregistered institutional sales of its XRP token, but experts told Law360 the $125 million fine and injunction Ripple faces is much more than a speeding ticket to end a costly four-year battle.

  • August 09, 2024

    SEC Settles With EV Fleet Co., 3 Execs For More Than $5M

    Electric vehicle company Ideanomics and its former CEO Bruno Wu, a wealthy Chinese entrepreneur, have agreed along with other executives to pay a combined roughly $5.1 million to settle U.S. Securities and Exchange Commission claims of accounting and disclosure fraud, the agency said Friday.

  • August 09, 2024

    Gemini Seeks Quick 2nd Circ. Appeal In CFTC Fight

    Gemini Trust Co. has asked a New York federal judge for permission to quickly appeal to the Second Circuit a June ruling denying the Winklevoss-led crypto exchange a win in the U.S. Commodity Futures Trading Commission's lawsuit alleging Gemini illegally downplayed known risks of its proposed bitcoin futures contract.

  • August 09, 2024

    Valeant's Legal Gripe A Total 'Nothingburger,' Justices Told

    A lawyer who assembled a whistleblower lawsuit against a major pharmaceutical company using publicly available patent board filings says the larger legal question of whether he can do that is way too niche for the U.S. Supreme Court to bother thinking about.

  • August 09, 2024

    Trump Again Appeals Merchan's Gag Order To NY High Court

    Former President Donald Trump is again seeking dismissal of a gag order in his criminal hush money case barring him from threatening court and district attorney staff, telling New York's highest court on Thursday that he disagreed with "each and every part" of a recent intermediate appellate court ruling that found threats remained imminent.

  • August 09, 2024

    Ex-Mozambique Finance Minister Convicted For $2B Scheme

    Mozambique's former finance minister was convicted of wire fraud and money laundering conspiracy charges in connection with his role in the $2 billion "tuna bonds" scandal, prosecutors announced.

  • August 09, 2024

    Not Enough Data To Find Jury Racial Disparity, 2nd Circ. Says

    The Second Circuit declined to find that the Southern District of New York's jury selection procedures cause underrepresentation of minorities, but welcomed "a future challenge with greater proof" against the district's voter registration-based system.

  • August 09, 2024

    New Yorker Sues Ice Cream Museum Over Sprinkle Pool Injury

    New York City's Museum of Ice Cream is facing a suit from a man who alleges he broke his ankle when he jumped into the museum's "Sprinkle Pool" and is calling the attraction unsafe.

  • August 09, 2024

    Healthcare-Focused SPAC Voyager Nets $220M IPO

    Shares of healthcare-focused Voyager Acquisition Corp. began trading publicly on Friday after the company priced its $220 million initial public offering.

  • August 09, 2024

    'Outrageous': Dems Grill JPMorgan Over Potential New Fees

    Two Senate Banking Committee Democrats have ripped into JPMorgan Chase & Co. over an executive's recent warning that it may hike some costs for customers in response to pending fee rules from the Consumer Financial Protection Bureau, calling it an "outrageous" threat and demanding more details from the megabank.

  • August 09, 2024

    Judge Sides With NY Diocese In Axing 33 Abuse Claims

    A New York federal judge has upheld the dismissal of 33 sexual abuse claims against Long Island's bankrupt Roman Catholic Diocese, finding there was insufficient evidence the diocese had supervisory control over the alleged abusers.

  • August 09, 2024

    Virtu Financial Can't Cut Down SEC's Information Security Suit

    A Manhattan federal judge declined Friday to trim a U.S. Securities and Exchange Commission lawsuit over Virtu Financial Inc.'s protection of customer investment data, saying discovery is needed to determine whether the platform designed reasonable safeguards to wall this information off from its own in-house traders.

  • August 09, 2024

    NYC Prisons Face Contempt Bid Over Missed Medical Service

    Inmates of the New York City prison system have rekindled a class action against the city's Department of Correction with a contempt motion claiming the department has failed to follow a court order to provide prisoners with better access to healthcare services.

  • August 09, 2024

    NY Counties Say Cayuga Nation's 911 Suit Not An Emergency

    Two New York counties have urged a federal district court to toss the Cayuga Nation's lawsuit accusing the counties of refusing to forward the reservation's 911 calls to the tribe's police department unless it pays, arguing the tribe's civil rights protection claims are not enforceable.

  • August 09, 2024

    Full 2nd Circ. Axes Producer's Bid To Revive Blacklisting Suit

    The Second Circuit won't take a second whack at its ruling that a stage workers union can't be held liable under antitrust laws for discouraging members from working with a Broadway producer following complaints about unpaid wages.

  • August 09, 2024

    Phillips Lytle Adds Ex-Benderson Development In-House Atty

    An attorney who started his career at Phillips Lytle LLP has returned to the firm as special counsel on its real estate industry team in New York state after five years as in-house counsel at Benderson Development.

  • August 09, 2024

    Off The Bench: NCAA Antitrust Woes, Ohio Trans Sports Ban

    In this week's Off The Bench, the NCAA still faces pushback from athletes after an NIL settlement, transgender youth athletes in Ohio lost their legislative battle, and the Seventh Circuit set an insurance broker straight on its actions in an NFL team's settlement with a former player.

  • August 09, 2024

    Ex-Mayer Brown Product Liability Atty Joins King & Spalding

    King & Spalding LLP has hired a former Mayer Brown LLP partner for its product liability and mass torts practice group in New York.

  • August 09, 2024

    Algonquin Power Selling Renewable Business For Up To $2.5B

    Gibson Dunn-led Canadian utility Algonquin Power & Utilities Corp. has agreed to sell its renewable energy business to a wholly owned subsidiary of Milbank-advised LS Power for up to $2.5 billion, the companies said in statements Friday. 

  • August 08, 2024

    ​​​​​​​UMG Hit With Copyright Suit Over Pitbull Song 'I Feel Good'

    Rapper Pitbull's 2021 hit "I Feel Good" ripped off the melody, tempo and arrangement used in another composition made over a decade ago, a New York company alleges in a copyright infringement suit filed in New York federal court Thursday against Universal Music Group and Pitbull's label imprint.

  • August 08, 2024

    Investors, Banks Pitch Next Steps In Saved Bond-Rigging Suit

    Investors accusing major banks of conspiring to rig corporate bonds have told a New York federal court they want to file a new complaint after the Second Circuit revived the suit last month over a potential conflict with the previous judge, while the defendants say this would take the case "back to square one."

  • August 08, 2024

    2nd Circ. Says Fla. Biz Should Have Been More Diligent Earlier

    A small Florida chain of souvenir stores had no luck Thursday at the Second Circuit trying to revive allegations that owners of a bankrupt beachwear company concealed the ownership of trademark registrations in a since-settled, decade-old lawsuit, because the chain "should have uncovered the alleged fraud" the first time.

  • August 08, 2024

    Lululemon Soured Investors With Latest Leggings, Suit Says

    Activewear company Lululemon Athletica Inc. faces an investor's proposed class action alleging it failed to disclose issues underlying sluggish U.S. growth, including factors that allegedly affected a recent bungled rollout of its Breezethrough leggings.

  • August 08, 2024

    2nd Circ. Won't Rethink Decision On 'Short-Swing' Profits

    The Second Circuit won't reconsider its decision to revive a lawsuit against hedge fund Raging Capital Management LLC over claims that it improperly made $5 million in short-swing profits as a corporate insider of retailer 1-800-Flowers.

  • August 08, 2024

    Judge Pauses Syracuse Diocese Ch. 11 Pending Changes

    A New York bankruptcy judge put the Roman Catholic Diocese of Syracuse's Chapter 11 case on hold Thursday until the diocese finishes revisions to its bankruptcy plan it says are needed to bring it into line with the Supreme Court's decision on Purdue Pharma's plan.

Expert Analysis

  • Series

    Being A Luthier Makes Me A Better Lawyer

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    When I’m not working as an appellate lawyer, I spend my spare time building guitars — a craft known as luthiery — which has helped to enhance the discipline, patience and resilience needed to write better briefs, says Rob Carty at Nichols Brar.

  • Lead Like 'Ted Lasso' By Embracing Cognitive Diversity

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    The Apple TV+ series “Ted Lasso” aptly illustrates how embracing cognitive diversity can be a winning strategy for teams, providing a useful lesson for law firms, which can benefit significantly from fresh, diverse perspectives and collaborative problem-solving, says Paul Manuele at PR Manuele Consulting.

  • Ambiguity Ruling Highlights Deference To Arbitral Process

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    A New York federal court’s recent ruling in Eletson v. Levona, which remanded an arbitral award for clarification, reflects that the ambiguity exception’s analysis is not static and may be applied even in cases where the award, when issued, was unambiguous, says arbitrator Myrna Barakat Friedman.

  • New State Climate Liability Laws: What Companies Must Know

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    New legislation in Vermont and New York creating liability and compliance obligations for businesses deemed responsible for climate change — as well as similar bills proposed in California, Massachusetts and Maryland — have far-reaching implications for companies, so it is vital to remain vigilant as these initiatives progress, say Gregory Berlin and Jeffrey Dintzer at Alston & Bird.

  • SVB Ch. 11 Shows Importance Of Filing Proof Of Claim Early

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    After a New York bankruptcy court’s recent ruling in SVB’s Chapter 11 case denied late claims filing requests related to post-bar date events, parties with potential claims against a debtor may need to seriously consider filing protective proofs of claim, says Kyle Arendsen at Squire Patton.

  • Justices' Criminal Law Decisions: The Term In Review

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    Each of the 11 criminal decisions issued in the U.S. Supreme Court’s recently concluded term is independently important, but taken together, they reveal trends in the court’s broader approach to criminal law, presenting both pitfalls and opportunities for defendants and their counsel, says Kenneth Notter at MoloLamken.

  • Opinion

    Now More Than Ever, Lawyers Must Exhibit Professionalism

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    As society becomes increasingly fractured and workplace incivility is on the rise, attorneys must champion professionalism and lead by example, demonstrating how lawyers can respectfully disagree without being disagreeable, says Edward Casmere at Norton Rose.

  • A Look At State AGs Supermarket Antitrust Enforcement Push

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    The ongoing antitrust intervention by state attorneys general in the proposed Kroger and Albertsons merger suggests that states are straying from a Federal Trade Commission follow-on strategy in the supermarket space, which involved joining federal investigations or lawsuits and settling for the same divestment remedies, say attorneys at Troutman Pepper.

  • What FTX Case Taught Us About Digital Asset Recoverability

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    FTX's Chapter 11 plan has drawn lots of attention, but the focus should be on the anticipated outcome for investors, which counters several myths about digital currencies, innovation and recoverability, says Kyla Curley at StoneTurn.

  • 'Outsourcing' Ruling, 5 Years On: A Warning, Not A Watershed

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    A New York federal court’s 2019 ruling in U.S. v. Connolly, holding that the government improperly outsourced an investigation to Deutsche Bank, has not undercut corporate cooperation incentives as feared — but companies should not completely ignore the lessons of the case, say Temidayo Aganga-Williams and Anna Nabutovsky at Selendy Gay.

  • Series

    Serving In The National Guard Makes Me A Better Lawyer

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    My ongoing military experience as a judge advocate general in the National Guard has shaped me as a person and a lawyer, teaching me the importance of embracing confidence, balance and teamwork in both my Army and civilian roles, says Danielle Aymond at Baker Donelson.

  • Will Texas Stock Exchange Provide Regulatory Haven?

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    While the newly proposed Texas Stock Exchange may represent a market reaction to increasingly complex regulations, those looking to list on a national securities exchange should consider that their choice of an exchange may not relieve them of some of the most burdensome public company requirements, say Elizabeth McNichol and Ryan Lilley at Katten.

  • A Midyear Forecast: Tailwinds Expected For Atty Hourly Rates

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    Hourly rates for partners, associates and support staff continued to rise in the first half of this year, and this growth shows no signs of slowing for the rest of 2024 and into next year, driven in part by the return of mergers and acquisitions and the widespread adoption of artificial intelligence, says Chuck Chandler at Valeo Partners.

  • Opinion

    States Should Loosen Law Firm Ownership Restrictions

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    Despite growing buzz, normalized nonlawyer ownership of law firms is a distant prospect, so the legal community should focus first on liberalizing state restrictions on attorney and firm purchases of practices, which would bolster succession planning and improve access to justice, says Michael Di Gennaro at The Law Practice Exchange.

  • Keys To Strong Parking, Storage Contracts For NYC Buildings

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    Drafting and enforcing unambiguous parking and storage unit license agreements are essential tasks for co-op and condo boards in New York City, with recent cases highlighting how prudent terms can minimize potential headaches, say Matthew Eiben and Adam Lindenbaum at Rosenberg & Estis.

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